Stock Report

NGEL Inks MoU with Department of Industries, Govt. of Bihar

Posted On : 2024-12-22 15:48:58( TIMEZONE : IST )

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar, during "Bihar Business Connect 2024" Global Investors' Summit held on December 20, 2024, in Patna.

The MoU was exchanged between Shri Alok Ranjan Ghosh, Director (Industries), Government of Bihar and Shri Bimal Gopalachari, Addl. GM (Business Development), NGEL in the presence of the Hon'ble Industries Minister, Shri Nitish Mishra, Smt. Bandana Preyashi, Secretary (Industries), Government of Bihar, Shri Sudip Nag, Regional ED (East-I), NTPC and other senior officials from the Government of Bihar, NTPC, NGEL, and other delegates.

The MoU outlines a framework for significant investments in Bihar to establish renewable energy projects, including:

- Ground-mounted and floating solar installations,
- Battery energy storage systems, and
- Green hydrogen mobility initiatives etc.

The Government of Bihar will facilitate the necessary permissions, registrations, approvals, and clearances from concerned departments, agencies, and authorities to support the projects.

Shares of NTPC Green Energy Limited was last trading in BSE at Rs. 132.05 as compared to the previous close of Rs. 134.80. The total number of shares traded during the day was 1019273 in over 7574 trades.

The stock hit an intraday high of Rs. 138.15 and intraday low of 130.55. The net turnover during the day was Rs. 136437466.00.